The Russian Direct Investment Fund, a sovereign wealth fund, said Thursday its investment activity will not be affected by recent sectoral sanctions imposed on Russia by the United States and the European Union as the entity does not directly attract equity or debt financing.
“RDIF does not directly attract equity or debt financing but instead invests only its own funds together with co-investors. We have never attracted such direct financing and are not planning to do it in the future. Accordingly the sanctions do not affect RDIF investment activity in any way,” the Fund said in a statement. “Pursuant to RDIF constitutional documents the Fund is not allowed to acquire control in any company and therefore there is no impact on our portfolio companies as well,” the statement said………………………………………..Full Article: Source

Norway’s central bank will not sell any Norwegian crowns in August to buy foreign exchange for the country’s sovereign wealth fund, the bank said on Thursday, in line with its practice in recent months.
The bank earlier said it did not expect to buy any foreign currency over the coming months and it could even buy crowns later in the year. The fund uses the proceeds of a sale to invest in stocks, bonds and property abroad. It is the world’s largest sovereign wealth fund………………………………………..Full Article: Source

Azerbaijan’s state oil fund SOFAZ which is in charge of accumulating and managing the country’s oil and gas revenues have taken some measures to include Yuan in its currency portfolio. SOFAZ Deputy Executive Director Israfil Mammadov said the fund has appealed to the People’s Bank of China to obtain quotes on indirect investment in the Chinese yuan onshore market with a view to diversify its investment portfolio.
The fund, established in 1999 aimed at transforming rising hydrocarbon reserves into financial assets, started investing in new asset classes such as equities, real estate, and gold, as well as diversifying its currency portfolio toward the Turkish lira, Russian ruble, and Australian dollar, from 2012………………………………………..Full Article: Source

According to a survey by international real estate advisor Savills, sovereign wealth funds in 2013 accounted for total investment volumes worth €5.5bn in key European markets (Belgium, France, Germany, Ireland, Italy, Netherlands, Poland, Spain, Sweden and the United Kingdom). The total is a year on year increase of 30%.
The firm notes that the top five sovereign wealth funds identified by the report were from the Middle East and Asia, with an average deal size per investor group of €700m over the year, up from €247m in 2012. Among the firms surveyed is the Qatar Investment Authority, led by chief executive Ahmad Al-Sayed………………………………………..Full Article: Source

Macau’s government has been urged to create a sovereign wealth fund (SWF) to better manage its substantial fiscal reserves and buffer the territory against external shocks. Following a recent mission to the Chinese SAR, the International Monetary Fund (IMF) issued a report stating that the establishment of an SWF with a clear mandate would enable Macau to generate better risk-adjusted returns over a long horizon, as well as help to diversify its asset base.
According to the IMF, the territory’s fiscal reserves stood at 58.7% of its overall GDP in 2013, or close to US$30 billion. It also projected that Macau’s economy would grow by 9% this year and by 10% in 2015………………………………………..Full Article: Source

Mr S Dhanabalan will rejoin the board of GIC as a director with effect from Friday, the investment company said on Friday morning. “We are very pleased to welcome Mr Dhanabalan to the GIC Board,” said GIC group president Lim Siong Guan in a statement.
“We will benefit from his wealth of experience in finance as we strive to invest well for present and future generations of Singaporeans.” Mr Dhanabalan, a founding board member of GIC when it was established in 1981, served on its board for more than 20 years before stepping down in 2005………………………………………..Full Article: Source

A Nigerian government agency charged with buying electricity in bulk from new power producers has engaged the country’s sovereign wealth fund manager to take custody of $350 million in liquid assets, as opposed to leaving it “sitting in the central bank” where it will “earn next to nothing”, according to the Nigerian finance minister.
The Nigerian Bulk Electricity Trading (NBET) was allotted the cash out of a $1 billion Eurobond issued by Nigeria at the start of July. They have now signed it over to the Nigeria Sovereign Investment Authority (NSIA) to manage it “in a manner that yields the required returns yet allows the funds to be readily available for any required Bulk Trader interventions”, according to NBET chief executive, Rumundaka Wonodi………………………………………..Full Article: Source

Lawmaker in the House of Representatives, Rep Francis Haske Hannaniya (PDP, Adamawa) advised President Goodluck Jonathan not to wait for the National Assembly’s approval on his request to take loan of $1 billion. Instead, he said the president should withdraw from the excess crude account to fight Boko Haram.
The lawmaker who represents Gombi/Hong Federal Constituency of Adamawa state made the call yesterday in Abuja while reacting to the renewed killings by Boko Haram in parts of Adamawa, Yobe, Borno and Kano state………………………………………..Full Article: Source